Luby's, Inc

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International Guild of Hospitality & Restaurant Managers

Luby's, Inc., originally incorporated in 1959, operates 202 Luby's cafeterias in ten states, as of December 5, 2001. The Company's cafeteria-style restaurants are located in close proximity to retail centers, business developments and residential areas in Arizona, Arkansas, Florida, Louisiana, Mississippi, Missouri, New Mexico, Oklahoma, Tennessee and Texas. Of the 202 restaurants operated by Luby's, Inc., 125 are at locations owned by the Company and 77 are on leased premises.

The Company's restaurants constructed prior to 1999 typically contain 9,000 to 10,500 square feet of floor space and seat 250 to 300 guests. In more recent years, the Company built several more-contemporary units. They contain 6,000 to 8,600 square feet of floor space and seat 170 to 214 guests.

The Company's product strategy is to provide a wide variety of freshly cooked foods in an attractive and informal environment. The Company's research has shown that its products appeal to a broad range of value-oriented consumers with particular success among families with children, seniors, shoppers and business people looking for a quick, homestyle meal at a reasonable price.

The Company's restaurants appeal primarily to shoppers, office or store personnel for lunch, and to families for dinner. The Company's restaurants are open for lunch and dinner seven days a week in most markets. All of the restaurants sell take-out orders, and most of them have separate food-to-go entrances.

During the fiscal year ended August 31, 2001, the Company opened one new restaurant and closed 19 underperforming units. Since August 31, 2001, the Company has closed 11 underperforming restaurants. During fiscal 2002, the Company expects six others to be closed. Openings of new ground-up stores will not occur in fiscal year 2002.

Disclaimer:
The data included within the Financial section is solely for information and does not construe a recommendation and/or endorsement by IGHRM or its members to invest funds with any of the companies listed. You are strongly urged to obtain professional advice with qualified individuals or corporations for any investments of funds.